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The judgement was delivered by a division bench comprising Justices Dalveer Bhandari and Harjit Singh Bedi while setting aside an order of the Madras High Court.
The CBI's Bank Securities and Frauds Cell had registered four criminal cases on June 27, 1998 on the written complaint of the Indian Bank and after investigation, the agency had filed chargesheets before the CBI Special Court, Chennai, in the year 2000, a CBI spokesperson said here on Monday.
While the trial was on, the accused businessman Ravishankar Prasad and Manohar Prasad entered into one-time settlement (OTS) with the Indian Bank and repaid Rs 157 crore in 2007, the spokesperson said.
On the basis of this OTS, the accused had approached Madras High Court seeking an order to quash criminal proceedings against them. The court on April 30, 2008 quashed the criminal proceedings.
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I have information for bank people looking for barbara kumar\barbara bowers is also known as maria barbara who is a loan deafulter she stays in banaswadi behind syndicate bank, Rangs's hotel is also a land mark, even her daughter rebecca kumar\ rebecca albina another loan defaulter stay in the same house. ph: 9880641601. belongs to rebecca albina\rebecca kumar.
As those who commit financial fraud puts the complainant in a lot of problems some times affecting their stability and very existence in the market (for business firms) and drag them chellenging till they realize they cannot escape law. Some with ulterior motive drag debtors for legal battel so that they could have ample time to settle the dues after utilizing the money once received from them for self development, and a weapon against them. As such the settlers- who settles in one go or otherwise- should be punished as per law, for committing the fraud proved, recovering legal cost, risk, compensation, and the loss sustained so that such cases should not be a precedent for others. OTS should not be a licence to commit fraud.
In last feb 2009 i had setteled a card of Ge money cash Card.I had paid all the dues as per the settlement letter...but till date i dont get any NO Dues Certificate from the Company Side..Pls tell me what to do